Warner Bros. Discovery director sells 340K shares

A Warner Bros. Discovery director sold 340,000 WBD shares at about $28.39 each and now holds 618,067 shares directly.

Rhea-AI Filing Summary

Warner Bros. Discovery, Inc. (WBD) director Anton J. Levy reported selling 340,000 shares of Series A Common Stock on September 3, 2026 in a sale characterized as an open market or private transaction at a weighted average price of $28.39 per share, with individual sale prices ranging from $28.37 to $28.44 per share. Following this transaction, he reported 618,067 shares of Series A Common Stock held directly. No Rule 10b5-1 trading plan is indicated.

Insider Trade Summary

Net Seller: 340,000 shares

Net Sell 1 txn

Insider LEVY ANTON J

Role Director

Sold 340,000 shs ($9.65M)

Type	Security	Shares	Price	Value
Sale	Series A Common Stock F1	340,000	$28.39	$9.65M

Holdings After Transaction: Series A Common Stock — 618,067 shares (Direct)

Footnotes (1)

1. F1. The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $28.37 to $28.44 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.

Key Figures

Shares sold: 340,000 shares Weighted average sale price: $28.39 per share Sale price range: $28.37–$28.44 per share +2 more

5 metrics

Shares sold 340,000 shares Series A Common Stock sold on September 3, 2026

Weighted average sale price $28.39 per share Average price for 340,000 WBD shares sold

Sale price range $28.37–$28.44 per share Range of prices for multiple sale transactions

Shares held after transaction 618,067 shares Direct holdings of Anton J. Levy after sale

Net buy/sell shares -340,000 shares Net effect of reported transactions was a sale of 340,000 shares

Key Terms

Series A Common Stock, weighted average price, open market or private transaction

3 terms

Series A Common Stock financial

"security titled "Series A Common Stock" was sold"

Series A common stock is a specific class of a company’s ordinary shares issued during an early formal funding round, carrying the ownership rights and voting power tied to that class. For investors it signals an early-stage equity claim with potential upside if the business grows, but also greater risk and typically less liquidity than shares in mature, publicly traded firms—imagine buying a seat on a startup’s team before the company has proven itself.

weighted average price financial

"The price reported represents the weighted average price of shares"

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

open market or private transaction financial

"Sale in open market or private transaction"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did WBD director Anton J. Levy report?

He reported a sale of 340,000 shares of Warner Bros. Discovery Series A Common Stock on September 3, 2026 in a transaction described as an open market or private sale.

At what price did Anton J. Levy sell his WBD shares?

The filing reports a weighted average price of $28.39 per share, with multiple trades executed at prices ranging from $28.37 to $28.44 per share for the 340,000 WBD shares sold.

How many WBD shares does Anton J. Levy hold after this sale?

After the reported transaction, Anton J. Levy holds 618,067 shares of Warner Bros. Discovery Series A Common Stock directly, according to the filing.

Was Anton J. Levy’s WBD stock sale under a Rule 10b5-1 trading plan?

No. The Form 4 indicates the Rule 10b5-1 checkbox is not marked, so no Rule 10b5-1 trading plan is reported for this transaction.

What type of security did Anton J. Levy trade in WBD?

He traded Series A Common Stock of Warner Bros. Discovery, Inc., disposing of 340,000 shares in a reported sale transaction.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/08/2026 - 05:00 PM EDT Accepted by SEC EDGAR 09/08/2026 - 04:59 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

LEVY ANTON J

(Last) (First) (Middle)

230 PARK AVENUE SOUTH

(Street)

NEW YORK NEW YORK 10003

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Warner Bros. Discovery, Inc. [ WBD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/03/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Series A Common Stock	09/03/2026		S		340,000	D	$28.39(1)	618,067	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $28.37 to $28.44 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.

Remarks:

	Tara L. Smith, Attorney-in-Fact	09/08/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)